Critical Success Factors of Knowledge Management

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Using the lessons learned from early adopters, many organizations have effectively provided their employees with the tools they need for managing and sharing knowledge. Yet, it is easy to forget to account for certain critical elements that enable knowledge sharing. An elementary success factor of knowledge management (KM) is to have a common understanding of the terms "knowledge management" and "knowledge sharing" and how they apply to your situation and needs. Some organizations choose not to use these terms at all because they are not accepted within the culture. By recognizing this fact, an organization is actually adhering to a critical success factor of KM: listen to your employees and customers. The definition of KM has evolved quite a bit since the mid 1990s. It started simply as valuable information in action, in which value is determined by the organization and the recipient. Although this definition still holds true today, KM has evolved into a more rigorous discipline that is subject to the same scrutiny as other business processes within an organization and is expected to show a return on investment (ROI). APQC defines KM as an emerging set of strategies and approaches to create, safeguard, and use knowledge assets (including people and information), which allows knowledge to flow to the right people at the right time so they can apply these assets to create more value for the enterprise. Some inherent critical success factors are built into the definition. KM is a set of strategies and approaches, which denotes a definite structure or a way to do things. Another critical piece of this definition is that this approach enables the flow of information to the right person at the right time; otherwise, an organization would be managing its knowledge just for the sake of managing it and not to create value. That brings us to the most critical aspect of this definition: creating more value for the enterprise. The most elaborate knowledge-sharing procedures will not help if the knowledge shared within an organization does not enable its recipient(s) to create value, be it through increased revenue or time or cost savings. The success of a KM initiative depends on many factors, some within our control, some not. Typically, critical success factors can be categorized into five primary categories: 1. leadership;

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Critical Success Factors of Knowledge Management

Using the lessons learned from early adopters, many organizations have effectively provided their
employees with the tools they need for managing and sharing knowledge. Yet, it is easy to forget to
account for certain critical elements that enable knowledge sharing.
An elementary success factor of knowledge management (KM) is to have a common understanding of the
terms "knowledge management" and "knowledge sharing" and how they apply to your situation and
needs. Some organizations choose not to use these terms at all because they are not accepted within the
culture. By recognizing this fact, an organization is actually adhering to a critical success factor of KM:
listen to your employees and customers.

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